Overview

On October 24, 2024 (KST), HYBE's Chief Operating Officer and Belift Lab CEO, Kim Tae Ho, found himself under intense scrutiny during a National Assembly audit in South Korea. The session revealed alarming insights into HYBE's business practices, leading to significant public and political outcry.

Leak of Internal Documents

The focal point of the audit was a series of leaked internal documents that suggested attempts by HYBE to undermine competing artist RIIZE. National Assembly member Min Hyung Bae did not hold back in his questioning of Kim Tae Ho, pressing him on whether founder Bang Si Hyuk had directed specific actions regarding these documents.

Questioning by National Assembly

'Isn't it true that Bang Si Hyuk asked Kang Myung Seo, the editor-in-chief of Weverse Magazine, to draft and submit this report?' Bae inquired, to which Kim struggled to provide a definitive answer, stating, 'It's hard for me to say because that’s not within the scope of my work...'

Controversial Official Statement

The situation escalated further when HYBE released an official statement during the audit—a move that enraged both the National Assembly and the Ministry of Sports, Culture, and Tourism. This now-deleted statement warned that those responsible for leaking information would 'take full responsibility,' an assertion that raised questions about the company’s transparency and accountability.

Response to Allegations

The controversial statement claimed the internal documents had been misrepresented in a way that made it appear HYBE was disparaging other artists. 'Provocative parts of the report were cherry-picked to create a false narrative,' the statement read. This bold admission only served to increase tensions between HYBE and the National Assembly.

Criticism from Assembly Members

Member Jeon Jae Soo, head of the Culture, Sports and Tourism Committee, openly criticized HYBE's response, stating the company displayed a lack of respect for legislative procedures. 'For the company to issue a statement in any way while the audit is being conducted undermines the authority of the National Assembly,' he asserted sternly.

Admission of Mistake

In an unexpected turn, Kim Tae Ho later recognized that issuing such a statement amidst the audit was a grave error. He explained that the urgent media inquiries they had received prompted the decision to clarify their position, but he emphasized that it was never intended to show disrespect toward the National Assembly.

Ongoing Implications

As HYBE continues to navigate this controversy, the incident has sparked intense debate about corporate ethics, accountability, and the relationship between major entertainment companies and governmental oversight in South Korea. The fallout from the audit could have lasting implications not only for HYBE but for the broader Korean entertainment industry as fans and legislators demand greater transparency and accountability moving forward.

Conclusion

Stay tuned as this story develops further, revealing more about the oversight of one of K-Pop's most influential entities!